Retail Business for Sale in Newport News, VA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Newport News, VA 23608

Description

DaVita Inc. is a Fortune 500® health care provider focused on transforming care delivery to improve quality of life for patients around the globe. The company is the largest provider of kidney care services in the U.S. and has been a leader in clinical quality and innovation for 20 years. Through DaVita Kidney Care, the company treats patients with chronic kidney failure and end stage renal disease. Newport News is situated in southeastern Virginia, home to over 186,000 residents. The city sits on a prime vantage point where the James River meets the Chesapeake Bay. Newport News runs approximately 23 miles along the James River and the Hampton Roads Harbor. It is located near Hampton, minutes from Williamsburg, and is a hour drive to Virginia Beach and the Atlantic Ocean. Investment Highlights: • Four Years Remaining on Lease with Three Percent Annual Rent Increases and Multiple Renewal Options • 147,121 Residents within a Five-Mile Radius - Growing Newport News Trade Area • Adjacent to Bon Secours Mary Immaculate Hospital (Over 120 Beds) • Located within the Denbigh Medical Center Office Complex • Average Household Income Exceeds $87,000 within the Surrounding Area

Market Context

This retail in Newport News, VA is listed for sale. It is offered at an approximate 7.8% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 52 days. Compare it against other retail listings for sale in Newport News, VA — <a href="/search/sale/retail/virginia/newport-news">view the full market</a>.

As of Q4 2023, the Hampton Roads retail market showed a 3.6% vacancy rate, average asking rents near $22.50/SF/yr, and cap rates around 6.6%. Source: Consensus Q4 2023 market report.

Its 7.8% asking cap rate is above the Hampton Roads retail market average of about 6.6%, implying a higher yield (and typically more risk or upside) than comparable assets. Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

What is the typical cap rate for retail in Hampton Roads?
About 6.6% as of Q4 2023, per Consensus.
Is the Hampton Roads retail market tightening or softening?
Vacancy is around 3.6% (Q4 2023).

Unified Estimate

Medium Confidence

$44.38/SF – $60.04/SF

Mid: $52.21/SF

Rate estimator only; cost-of-business estimate unavailable.

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